"I am one of those who do not believe the national debt is a national blessing...it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
—Andrew Jackson, letter, April 26, 1824

Finally found a chart with substance that the Fed can not trample all over. (and no, those are not 'green shoots' around the pumpkin)BOO!

Freedom watch - Too scary to post even on a Halloween Friday. Things are spooky enough without having to worry about government spying, internet control, police state, Agenda 2030, blah, blah, blah ...More to come below.Have a good holiday weekend. GL and GB!

Thursday, October 29, 2015

Nice when the market barometer has been reduced to a simple glance - QE or Rates and Good=Bad is as simple as it gets, just watch the headlines. A "Hawkish" Fed Is Bad For Stocks After AllThey've finally dumbed down investing to a point where anyone in the broad American public can master the markets. On to the lie -

SPX 15m - I just received notice from stockcharts that my use of red ink was excessive. Well, when negative divergences persist for a month, usage of red ink tends to follow.

Wednesday, October 28, 2015

Fed Day! Nothing else matters. On to the lie - SPX 15m - Whatever, we will find out if TA has any relevant meaning today. It's gonna come back to bite them. When we do not know, but it will at some point. It's their market till the market decides it isn't.

Tuesday, October 27, 2015

"But who was buying? We now know who wasn't: according to BofA "BofAML clients were net sellers of US stocks for the third consecutive week, in the amount of $1.7bn. Similar to in the prior two weeks, institutional clients, hedge funds, and private clients alike were all net sellers."

Fed in a two day policy meeting - Might as well come back after that is over. Gonna be dullsville till then. On to the lie - SPX 15m - See MACD, the 4 clear tops,the 4 negative divergences and the 4 clear overthrows. Price tried its technical best to follow the rules when the black channel set and drove price under blue wedge support, price fell, had backtest at double resistance, all which should have lead to failure. Of course that was overcome and now price is back in the end and should be completing the rising wedge. If that break of support was just lowering the support diagonal (an old Fed trick to extend a rally) so be it. The technical situation is crystal clear, however the overriding Fed/QE/fraud/corruption/manipulation situation is all that matters and that is not an easy call.

On to the lie - SPX 15m - Looks like that wedge I wanted formed and should be about to end. Price is over 64 which is amazing to me (my original high point off the lows), but then again I'm not really all that surprised. Remember, you are playing in a rigged market. Price is over the STB bull/bear line which means the odds of a move to a new ATH are better than not at this point (like it or not). I don't like the possibilities of a new ATH but can't argue against it. 4 if not 5 overthrows, neg divs all over, wedge ending - this thing is overly primed for a reversal. Many support points below. Watch the round number for I guess the biggest support/move point.

Freedom watch -

Corrupt government at the top of the list - America's Top 10 FearsMore to come below. Have a good day. GL and GB!

They are in total control - for now. SPX 60m - Coming up on the 2064 resistance area. There are three consolidation areas. This is the top of the middle one. 2064 was all I was willing to give this pop a few weeks ago, but with EU and China both on the gas pedal at the same time bears need to be on suicide watch again. They are in full blown bad=good mode again.

Price wedging into this resistance. Overbought with extreme negative divergences on the shorter charts, but when has that mattered? Who needs earnings or an economy for a strong stock market these days?

SPX 15m - Another morning and another set of negative divergences going to get destroyed. Fed (Draghi, China), IMO, made a fantastic stick save yesterday. Pure fantasy.

Thursday, October 22, 2015

Draghi, moar? That's all that matters. Remember the only QE that matters will be that from the Fed and not really anyone else. IMO any pop or hope rally will most likely be short lived. This is a band-aid. They need tourniquets and transfusions (and those won't even work).

Worth a look - this is from yesterday so you may have seen it already - reality, if you can handle it - If Caterpillar's Data Is Right, This Is A Global Industrial DepressionOn to the lie - SPX Daily - One of the resistance points that I've been looking at for a while. Actually a triple resistance point (blue, red and the 100dma). Another thing that does not bode too well for the index is the coming 20/50 dma bull cross. Take a look back through the chart and you'll find this cross foreshadows some good corrections.

Wednesday, October 21, 2015

"Telling people the truth today is meaningless, as they don’t want their illusions destroyed."

On to the lie - SPX 15m - Popping at wedge support. I suspected a pop before a drop late yesterday. Let's see what happens today. Upper black channel resistance driving into lower wedge support making a triangle of double pattern R and S which can be a very powerful technical situation. Two formations coming together - which one wins? Neg divs and overthrows. They can pop it - it is their market, but the next fall should not be pretty.

SPX 5m - I adjusted the blue support to reflect the position on the 15m chart. The pop this morning will set another overthrow on this chart.

SPX 60m - Two opposite scenarios - Either the wedge (blue) that I've been thinking would form for a couple of weeks or the potential inverse head and shoulders. The way I see it - Draghi (or another) QE's or does not. You have to wait for the decision. The wedge is the most normal or logical choice given everything we know (earnings etc...), but there is nothing normal or logical about this market.

Freedom watch - Trudeau? I guess he's slightly better than what we have as an offering for leadership.

Monday, October 19, 2015

Sorry, with the markets I'm somewhat confused. Does bad=good or good=good or good=bad? I think it's just whatever the Fed deems for the day is really all that matters. Earnings season rolls along and the persistent rumors or hopes of moar QE continue to flow. On to the lie -

SPX 15m - Triple overthrow, multiple negative divergences, various resistance points in play - the wedge I suspected would come did come and it may now have played out. As you can see there is more room for upside, but it can be technically completed at this point. Post OPEX has not been good in the past several months. She may not go down today, but there is not much time left before the next correction.

It's almost an election year and POTUS wants a third term - how does he get it? He starts WWIII and then buys off the sheeple with direct QE!Where Is the First Helicopter Drop of Money Likely to Land?(Throw in a couple FF's in the mix as well.)On to the lie - SPX 30m - Could I actually get that rising wedge formation? I doubt it. Even with the QE call above and an ass ton of bad=good on our plate, reality may try to assert its self on price again. the lower consolidation area is still the range.

Wednesday, October 14, 2015

Maybe this should be the headline today?Dennis Gartman Turns Bearish.I don't know, I'm not as high on the DG anti-barometer as some of you. Just thought I'd frontrun the news in the commentary. I guess earnings and China dominate headlines today. Nothing earth shattering. QE or rate news is about all that matters anymore. On to the lie - SPX 30m - All sorts of stuff happening here and not happening as well. Double top resistance at the upper end of a lower large consolidation area with some harsh ST negative divergences following a double overthrow of prior negative divergences. All of this could mean absolutely nothing (as it has in the past), as the Fed remains in full control no matter what. Until the STB "event" the markets will only do what they want. If I were a sadistic bastard working for the Fed, I'd be looking to set up a bunch of shorts for slaughter, so be careful with any reversals here. The blood of shorts is what they love to feed on. Round levels should be the main protection areas. I'll put up some shorter term charts below with targets.

Just saying - "President Barack Obama’s top homeland security official has
ordered a review of the nation’s terrorism alert system to reflect what
he called the growing threat of attacks originating within the
United States." Not sure how they say Hildabeast won the debate (which I did not watch) when Drudge has the people voting her in 3rd place with 8% to Sanders winning with 25%. Now, if you are gonna say that's a bunch of conservatives voting, remember they just placed a socialist well ahead of a crook. More to come below. Have a good day. GL and GB!

Tuesday, October 13, 2015

The JNJ buyback story is one that is becoming all to familiar. When corporate buybacks are 30% of market purchases (with the Fed being the remaining 70%) the "market is not healthy. When attempts to save executive stock laden bonuses and the golden parachutes rule this "market", well, the end result should not leave much to ponder. When corporations are investing free money from the Fed into what basically is an executive get rich scheme instead of their future (cause they know they have no future), then we know the end game is upon us. JNJ just beat, and that's all the sheeple need to know. How they beat is a total joke and should be criminal.

One word following post Fed speak and yesterday's dramatic rise - Doveish. Need I say moar? Not really. Move along comrade, nothing to see (or say) here. On to the lie - SPX 15m - The push to take back some key round levels defying gravity and any other natural forces is something that we've become accustomed to. Reality is a thing of the past. Just deal with it till it implodes.

"His revelations should worry anyone who cares about human rights,
especially in an era where the threat of terrorism is used to justify
all sorts of governmental crimes against civil liberties. We have
willingly given up our freedoms in the name of security"

Thursday, October 8, 2015

Cubbies in the playoffs? Well, let's just say if they win the World Series, then the end of times must be near. Fed speak today after bad jobs numbers - markets will be in stall mode drifting south I believe till this afternoon.

SPX Daily - Upper end of the lower consolidation area of the larger consolidation area. 50 dma at 97 is another problem.

SPX 15m - there is a rising wedge in there somewhere, it is just sloppy and hard to ID. That S/R zone from 75 to the round number is corralling price here. Can they break it out? If so you can look all the way up to 62. If not 1872 is back in play.

Wednesday, October 7, 2015

I think there is a good chance I may move the Freedom Watch section of the post to the top and make any market commentary at the bottom of the post. Why? Simple, cause the market is nothing more than an illusion to distract you from reality. Having the Freedom section at the bottom of the post is exactly what they want - Focus on everything but them destroying liberty and taking every ounce of freedom you have. I think knowing more about your current/future enslavement is slightly more pressing. We need to get our priorities straight, and me having markets over far more important things is just not right. I may even go as far as changing the name of the blog.

Tyranny is not coming, it is not on our doorstep, it is here now.

Learn about the NDAA and its destruction of your Constitutional rights HERE. On to the lie - SPX Daily - Resistance. Still may be a bit early for the final holiday ramp, but maybe not. 1990 to the round number are very important to both bulls and bears. 2032 is the STB bull/bear line (may not be relevant anymore). 2064 is my max for now.Larger consolidation may be about to move into the upper range (00 - 64). I still remain bearish, but more cautiously than before.

SPX 15m - That 20 point range from 1995 to75 is a battleground. Possible large IHnS being set up here.

Freedom watch -

You need to pay close attention to the details of this story - California Mayor Forced to Hand Over Electronics and Passwords at Airport, Compares U.S. To Nazi Germany. Remember that thing called the NDAA I screamed and warned you about? Or that thing called the Patriot Act? Yall, do not take these things lightly or with a grain of salt - this shit is real! YOU HAVE NO RIGHTS! Get that through your fat skulls. Yea, yea, yeah, blah, blah - you better get tuned in to this takeover - TPP is one of the final nails in the coffin. Big Brother IS here, and you better stop ignoring the fact. I don't ask you to listen to AJ often but he nails it here. I think you need to hear what he has to say here -

On to the lie - SPX Monthly - Comparing the tops - looks like all we're waiting on is one last bull trap. Course you know I think this will come with QE4. The negative divergences are undeniable (as are their historical results).

SPX 15m - gonna go into an overthrow situation actually with their greed spoiling a great setup for and IHnS. The pop this morning will, IMO set up a short op, but you'll need to remain patient. they have the QE pump in full swing now. Maybe Gartman will help out this situation.

SPX Daily - Potential HnS Ive been looking at for a while now. A pop back to near the round number or even as high as 64 then a potential bottom drops out scenario is laid out.

And if you were wondering about the immigration issue - simple - it's all about lower wages and increasing corporate profits - Deutsche Bank Boosts German GDP Forecast Due To "Surge In Immigration". You need to think about this as they continue to destroy the middle class, take our jobs and (what the greedy bastards cant see) destroy the economic strength that allows people to buy their products.

Freedom watch - The nanny state is hear to scare you and then protect you (necessarily or not). Sadly for the The Weather Channel and the Fed, Joaquin
is not tracking to hit the US anymore, but they will still try to sell
as much fear as possible. Hilarious listening to the weather channel try
and sell the fear to keep you watching. LOL - Like I said, if Russia wants to hit us, they are going to do it where it's gonna hurt the most -"They're Hopping Mad In The US And Saudi Arabia": Russian Strikes In Syria Spark Epic Western Media Propaganda BlitzMore to come below. Have a good weekend. GL and GB!

Told you I'd get my charts back a bit quicker this time. Sad part is that I had to get them back. SPX Daily - for now I'm sticking with the larger red falling wedge formation. A HnS is now possibly in play with neckline around 1900 targeting the 1760-50 area. the last pop and fall could have made the RS. My max retracement to the 2064 area has been bolstered by the upper wedge resistance and the 100 and 200 dma's plus the s/r that exists there. I'd prefer a move to there to set the RS of the HnS. This little bump is enough,but it is not all that and a bag of chips.

SPX 15m - this morning's move up would have set some short term overbought overthrow situations on the 15m chart, but the no QE Japan squashed that move. Channel resistance is gonna hold against the ON low liquidity ramp. 1948 next resistance if it fails.

About Shanky

I am a former financial professional that blogs for fun. I enjoy sharing my thoughts with others on my blogs. I hold nothing back and apologize for the foul language in advance, but dire situations require accurate descriptions. Please feel free to contact me with your thoughts or tips at the email address provided. Enjoy!

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You are a complete bonehead if you take and act on any of the advice given on this blog. You need to have your head examined if you solely rely on others telling you what to do and do not do your own homework. This is fun for me and should not be construed as investment advice. If you think it is, DON'T! Enjoy!
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